Need a GM card balance transfer with no fee

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
7 posts
Dylan1982
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Need a GM card balance transfer with no fee

Postby Dylan1982 » Tue Mar 06, 2012 12:30 am

Little back story about my current credit card

I have the GM Card. When I first got it back in 2002 the APR was ~20%, after 10 years of making on time payments I got the interest rate down to 4.3% by calling 2 times a month for like 4 years.

Fast Forward to 10/2009 (when the economy took a dump) I got a letter in the mail as well as thousands of others HSBC customers that for no apparent reason we are going to jack up your interest rate. Mine got jacked up to 12.49% :mad: :beat:

I do have a high balance on the card as of right now of $7,300.

My question is, what is a good credit card that offers 0% interest and a no balance transfer fee?

I just paid off my Best Buy Card ($1,079) and Discount Tires Card ($667) if that matters.

I really need to get this card paid off.. The interest is killing me. The minimum payment is $149 and I put $85 first half of the month and for the second half of the month another $85 for a monthly total payment of $170. That is $21 more than the minimum payment of $149

And it sucks b/c I have about $1,000 GM dollars that I am never going to use :(

Can anyone please help?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)


Dylan1982
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Postby Dylan1982 » Tue Mar 06, 2012 3:17 am

Since I am working night shift right now, I just now got off the phone with GM Cards customer service. Here is how the convo went

I talked to the first customer service rep, I told her nicely that I have been a loyal customer for 10 yrs now, in those 10 yrs I have never been late or missed a single payment, what can you do to help me lower my interest rate? So she said right now unfortuately your 12.49% is the lowest rate that they have to offer. I then nicely asked can I please speak to someone like your Account Manager that has the authority to change my interest rate? She politely obliged with my request and transfered me.

..... 13 mins later I was speaking to the Account Manager, I again stated that I have been a loyal customer for 10 yrs, never made a late payment in those 10 yrs and that I make more than the minium payment. I asked what can you do to help me? The Account Manager saw that I have been a customer for a decade wtih an amazing payment history, but at this time I have a lower rate. She then said that she will flag my name for her manager to reveiw my account and will see if I can qualify for a lower interest rate. She said I should receive a call back later this afternoon.

If they don't lower my interest rate what else can I do? Tell them Chase has an offer for a 0% BT for 18 mos and the APR is 9.9% after that?

In all seriousness, being a customer for 10 yrs with an outstanding payment history, GM Card should have no problems lowering my interest rate....
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

jeffysdad
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Postby jeffysdad » Tue Mar 06, 2012 7:53 am

I don't think you're going to find a BT offer with no fee. I would look for one with a fee of 4% or less with the most favorable interest, tenor you can find. In future, keep your options open when accruing rewards, but you know that now.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

Dylan1982
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Location: Chicago

Postby Dylan1982 » Tue Mar 06, 2012 7:42 pm

I don't know why my posts aren't showing up..

But I talked to an Account Manager last night, told them I was loyal customer been with HSBC for 10 yrs, never have had a late payment and always pay more than the minium payment. The Account Manager said that her manger would give me a call back today to let me know if I can get a lower rate

Fast Forward to 5:45 tonight. I got a call from HSBC, the Account Managers, manager (lol) said that there was no lower rate availabel to me at this time, but will put in a request for their credit department to look at it. Also she informed me that my account was up for a reveiew at the end of April of this year.

So I guess for now I am stuck, which is kinda BS. Been a customer for a decade with NO late payments and they cannot lower my rate at all.. Not too happy at the moment

I guess I will have to wait for now, I will report back later when I hear something
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

Dylan1982
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Posts: 323
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Location: Chicago

Postby Dylan1982 » Fri Mar 09, 2012 7:59 pm

jeffysdad wrote:I don't think you're going to find a BT offer with no fee. I would look for one with a fee of 4% or less with the most favorable interest, tenor you can find. In future, keep your options open when accruing rewards, but you know that now.

You're right there wont be one with a no BT fee. Someone told me that I should look into a Citi card and do a BT.

Would you happen to know of a good Citi card for me?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

Dylan1982
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Posts: 323
Joined: Tue Mar 06, 2012 12:15 am
Location: Chicago

Postby Dylan1982 » Sun Apr 22, 2012 9:59 pm

From post #4.....

It is now the end of April, I called HSBC The GM card tonight to see if my account was indeed reviewed.

When I called I got the regular representative, explained her the cliffnote version of my story for
March 6th. She herself looked to see if their was a lower interest rate for my card, of course there wasn't. So I again politely asked asked to speak with her account manager, she happy to transfer me.

6 minutes later I was talking an account manager, again explained my phone call from March 6th with great detail basically just repeated my stuff from post #2. The account manager also told me that my 12.49% was the lowest available interest rate on my card. She apologized and we started talking. She gave me a $30 credit just because. I said thank you I will accept but was really hoping to lower my interest rate, I could save more than $30 lol.

So where do I go from here? Should I call back in another month explain my situation again and try to lower my interest rate? I'm sort of at a loss now.

Any help, tips or trick would be greatly appreciated!!
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

andy1088
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Postby andy1088 » Mon Apr 23, 2012 4:34 am

Apply for a Citi Platinum select mastercard. 3% balance transfer fee, but 18 months 0% apr. One of the best BT cards out there now..
My cards
Chase-Sapphire-$5,000 Freedom-$3,000, Amazon rewards-$700, Slate-$600
Citi- Diamond Preferred-$4,000, Thank you-$2,500
Discover IT-$2,500
Bank of America cash rewards-$2,000
Capital one newcomer rewards-$500



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